Ethereum Price Prediction: ETH Faces Heavy Selling Pressure After $11.5 Million Verus Bridge Exploit
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Ethereum is under heavy selling pressure, trading near $2,120 after failing to hold the $2,350 resistance and putting the $2,000 support at risk as price stays below major EMAs. Open interest near $30B raises liquidation risk while an $11.5M Verus-Ethereum bridge exploit has weakened sentiment and heightens DeFi security and volatility concerns for crypto derivatives.
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- Ethereum remains bearish below major EMAs, with $2,000 support now at risk zone
- Open interest near $30B keeps liquidation risk elevated amid falling prices now
- Bridge exploit draining $11.5M adds fresh uncertainty and weakens sentiment now
Ethereum continued trading under heavy pressure this week as bearish momentum strengthened across derivatives, spot flows, and broader market sentiment. The asset dropped near $2,120 after losing several major support zones on the four-hour chart. Additionally, a multi-million-dollar exploit targeting the Verus-Ethereum bridge added fresh uncertainty to the market.
Technical indicators showed sustained weakness after ETH failed to hold the $2,350 resistance region. Sellers quickly regained control and pushed the asset below multiple exponential moving averages. Consequently, analysts now expect heightened volatility as traders re…
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